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Australia: Coles gloats over mid-year profits as Smeaton Grange lockout continues In a video posted online last weekend, workers were treated to the nauseating spectacle of Coles CEO Steven Cain and Chief Operations Officer Matt Swindells congratulating one another on the company’s recently announced half-year profits of more than $500 million, and hailing their “progress” in a far-reaching restructure. The conversation was conducted in the corporate jargon that is favoured by the top levels of company management. In the course of little over four minutes, the word “team” was used on almost too many occasions to count. In the peculiar language of business speak, employees are referred to as “team members.” ....
4.43PM â Feb 24, 2021 Harmoney, MoneyMe lift personal loan originations in bank tech battle Loan originations are on the rise at two new, tech-driven personal lending brands, Harmoney and MoneyMe, which presented plans to beat the major banks at finding customers and assessing their risk but failed to convince the market. Harmoney and MoneyMe have both developed machine learning tools using broad data sets to assess customers; Harmoney said a new model using data from 53,000 Australian loan applicants had resulted in its âLibraâ system doubling originations in the middle two weeks of February. Over the half, Harmoneyâs $194 million of new loans was down 28 per cent, adding to the negative sentiment on the market. But it explained this was due to a COVID-induced pullback in the first quarter and said new loans were up 47 per cent in the second quarter and momentum is continuing. Itâs total loan book is $470 million including New Zealand, whe ....
Latest half-yearly financial reports from Australia's two big supermarketers highlights impact of COVID-19 on ecommerce sales growth and digital engagement ....